Hello, very late to reply but the short answer is no. You cannot register a mortgage on a property that is not complete and registered with the city.

In your case, I would notify your bank/mortgage company that the timeframe will be 120 days, and if they want your furture mortgage(s) they must entertain your exception/request. I have had a lot of success doing this for clients at both TD Bank and Scotiabank.

If successful, they will likely charge you the penalty upon the sale and refund it upon the funding of your new mortgage.